Mount Yale Investment Advisors LLC reduced its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 2.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 204,342 shares of the network equipment provider's stock after selling 5,153 shares during the quarter. Cisco Systems accounts for about 1.1% of Mount Yale Investment Advisors LLC's investment portfolio, making the stock its 9th largest holding. Mount Yale Investment Advisors LLC's holdings in Cisco Systems were worth $8,174,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CSCO. Great West Life Assurance Co. Can bought a new position in shares of Cisco Systems during the third quarter worth about $246,529,000. Renaissance Technologies LLC grew its stake in Cisco Systems by 4,090.1% in the second quarter. Renaissance Technologies LLC now owns 5,359,105 shares of the network equipment provider's stock valued at $228,512,000 after purchasing an additional 5,231,205 shares in the last quarter. Federated Hermes Inc. grew its stake in Cisco Systems by 3,370.0% in the second quarter. Federated Hermes Inc. now owns 5,371,625 shares of the network equipment provider's stock valued at $229,047,000 after purchasing an additional 5,216,825 shares in the last quarter. National Bank of Canada FI grew its stake in Cisco Systems by 265.5% in the third quarter. National Bank of Canada FI now owns 6,320,850 shares of the network equipment provider's stock valued at $253,082,000 after purchasing an additional 4,591,715 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Cisco Systems by 50.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 13,295,855 shares of the network equipment provider's stock valued at $566,935,000 after purchasing an additional 4,447,807 shares in the last quarter. 71.10% of the stock is currently owned by institutional investors.
Get Cisco Systems alerts:Insider Transactions at Cisco Systems
In other Cisco Systems news, COO Maria Martinez sold 3,201 shares of the company's stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $47.81, for a total value of $153,039.81. Following the completion of the transaction, the chief operating officer now owns 452,254 shares of the company's stock, valued at approximately $21,622,263.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cisco Systems news, COO Maria Martinez sold 3,201 shares of the company's stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $47.81, for a total value of $153,039.81. Following the completion of the transaction, the chief operating officer now owns 452,254 shares of the company's stock, valued at approximately $21,622,263.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 115,868 shares of the company's stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $48.64, for a total value of $5,635,819.52. Following the completion of the transaction, the chief executive officer now directly owns 827,722 shares of the company's stock, valued at approximately $40,260,398.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,098 shares of company stock worth $11,939,277. Corporate insiders own 0.02% of the company's stock.
Cisco Systems Price Performance
Shares of CSCO traded down $0.23 during midday trading on Friday, hitting $48.11. The company's stock had a trading volume of 2,134,882 shares, compared to its average volume of 15,555,699. The company has a quick ratio of 1.34, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Cisco Systems, Inc. has a one year low of $38.60 and a one year high of $57.69. The stock has a market capitalization of $197.68 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.33 and a beta of 0.99. The company's fifty day simple moving average is $48.18 and its two-hundred day simple moving average is $45.45.Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its earnings results on Wednesday, November 16th. The network equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.73 by $0.04. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The firm had revenue of $13.63 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business's quarterly revenue was up 5.7% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 25th. Shareholders of record on Thursday, January 5th were given a $0.38 dividend. The ex-dividend date of this dividend was Wednesday, January 4th. This represents a $1.52 dividend on an annualized basis and a yield of 3.16%. Cisco Systems's dividend payout ratio is currently 54.87%.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. StockNews.com upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, December 23rd. Oppenheimer reaffirmed an "outperform" rating and issued a $50.00 price objective on shares of Cisco Systems in a research report on Friday, November 18th. TheStreet raised Cisco Systems from a "c+" rating to a "b-" rating in a research report on Monday, November 28th. Bank of America reaffirmed a "buy" rating and issued a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, November 16th. Finally, Credit Suisse Group raised their price objective on Cisco Systems from $65.00 to $67.00 and gave the company an "outperform" rating in a research report on Thursday, November 17th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $53.95.
About Cisco Systems
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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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